Following a Tough Party Act, Famously

BEVERLY HILLS, Calif.—Here's an example of a true power move: hosting an intimate benefit for major players at your West Coast home and not even being there for it.

Such was the case over the weekend with a Chanel-sponsored fundraiser for the Natural Resources Defense Council at the Holmby Hills manse of Larry Gagosian. The gallerist reportedly bought the house, formerly owned by Gary Cooper and designed by A. Quincy Jones, in...